Fossil Group, renowned for its stylish watches, has announced its exit from the smartwatch arena, redirecting resources to concentrate on its core strengths—traditional watches, jewellery, and leather goods.
The decision follows the strategic shift, acknowledging the evolving landscape of smartwatches.
While the Gen 6, launched in 2021, marked Fossil’s smartwatch finale, the company pledges continued support and updates for existing smartwatches in the coming years.
Fossil’s foray into smartwatches was marked by a fashion-forward approach, leaving an indelible impact on the industry’s retail landscape.
Fossil’s exit from the smartwatch market means a twin blow for buyers. Not only does it mean Samsung gets to be their only go-to big brand (not counting Google here because of sporadic availability and limited portfolio), but it also means far fewer options in terms of design and styling.
The exit poses challenges for consumers seeking diverse design options and underscores the impact of ecosystems and partnerships on market dynamics.